Apple to host spring event next week, low-cost 5G iPhone in focus

Apple Inc will host its annual spring product launch event on March 8, the iPhone maker said on Wednesday.

The company is expected to launch a low-cost version of its popular iPhone with 5G, a new version of the iPad Air and a high-end Mac Mini. "Peek performance. March 8th. See you there," Apple's senior vice president of marketing, Greg Joswiak, said in a tweet.

The company did not share more details on the event. The new phone would be the first update to the iPhone SE model in two years and is rumored to come with an improved camera and a faster processor.

iPhones with 5G capabilities have been a big part of Apple's focus for its flagship product, with its latest model iPhone 13 showing off custom 5G antennas and radio components for faster speeds as customers look for powerful devices with better connectivity. The world's most valuable company, Apple was able to overcome supply chain issues that crippled other industries and companies that led to product shortages during the holiday season to post record sales, thanks to the popularity of its iPhones.

Last year, Apple launched AirTags, a small tracking device, that has drawn criticism for unwanted tracking that could put users' privacy at risk. Apple usually hosts three events every year to launch new products, starting in spring and announcing the launch of its latest iPhone range just before the holiday shopping season.